This book is a result of the 5th Biennual Conference of the European Association for Comparative Economic Studies "Economies in Transition and the Variety of Capitalisms: Features, Changes, Convergence" held in Varna, Bulgaria, 10-12 September 1998. It includes 28 papers from all discussed...

The study reviews the experience of Kazakstan with financial reform. After establishing a two-tier banking system with the National Bank of Kazakstan as the central monetary authority, banks were separated between deposit taking institutions and investment banks. The priorities of the monetary...

The post-Soviet political economy of Azerbaijan, Kazakhstan and Turkmenistan is characterised by authoritarian government, substantial public revenue from hydrocarbons and GDP per capita ranked 'low' to 'lower middle'. The first of these weakens prudential constraints on the allocation of the...

This book brings together ten original studies on the transition and growth experience and the foundations for long-term growth of the newly independent states created by the dissolution of the Soviet Union.

We empirically model the causes of corruption and test the economic development–corruption link in energy-rich economies, using data from 48 countries with energy resources. The results indicate that energy abundance may not necessarily hurt economic development in energy-rich countries,...

This paper discusses the contribution that oil funds can make to the policy challenges facing resource-rich countries. To set the stage, it reviews the potential role of such funds in the broader context of macroeconomic and energy policies – taking into account uncertainty about oil prices,...